B) If I am reading this right, it seems like the ParaPhernalia 20 year life recently put in their Softie manual is actually not binding as per FAA for any Softies purchased prior to the manual revision ?

The first half is correct but it doesn't matter when or what they put in the manual it is not binding. Nothing they say in the manual is binding. Only a Service Bullitin stating safety concerns and requesting an Airworthyneess Directive and the issuance of that Directive can change the life span. Mike Truffer (Skydiving Mag) did the research some years ago. If a rig is to have a service life it must be specified in the data package which accompinies the original application. Changing the manual does nothing. The FAA points out, in the last paragraph, it must be by "Service Bullitin" stating Safety Concerns and requesting an "Airworthyness Directive. Just putting it in the manual does nothing

I applaude the work done by Mike and now Randy. It is the correct rule.

Once PIA got a letter from the French Federation stating their equipment had a 20 year life and requesting to know what the life span on American equipment was. PIA responded "120 days" which was the duration of the "Inspection Cycle" at that time.